BIOLASE raises $4.5M via underwritten offering of Series H preferred stock and warrants

BIOLASE, INC

Gross proceeds ~$4.5M from 175,000 units at $26/unit; each unit includes one share Series H preferred ($50 liquidation pref, 48% OID) and warrant to buy 0.5 preferred share.
Series H preferred converts to common at $0.1398/share; carries 20% PIK dividend (one-time after one year); 2-year term with mandatory redemption at $50 stated value.
Warrants exercisable at $13 per warrant (for 0.5 preferred share), immediately exercisable, 2-year term.
Net proceeds for working capital and general corporate purposes; offering closed May 26, 2023.
Lake Street Capital Markets and Maxim Group acted as joint bookrunners.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BIOLASE, INC: Filed Certificate of Designation for Series H Convertible Redeemable Preferred Stock (effective 2023-05-24).

Change: charter amendment
Effective: 2023-05-24

Exact text from the filing

On May 24, 2023, the Company filed the Certificate of Designation with the Secretary of State of the State of Delaware to establish the powers, preferences and rights of the shares of the Series H Convertible Preferred Stock and the qualifications, limitations or restrictions thereof.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BIOLASE, INC entered into Underwriting Agreement with Lake Street Capital Markets, LLC, as representative of the several underwriters named therein (effective 2023-05-24).

Action: entry
Agreement: underwriting
Counterparty: Lake Street Capital Markets, LLC, as representative of the several underwriters named therein
Effective: 2023-05-24

Exact text from the filing

On May 24, 2023, BIOLASE, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Lake Street Capital Markets, LLC, as representative of the several underwriters named therein (the "Underwriters"), pursuant to which the Company agreed to sell to the Underwriters, in a firm commitment underwritten public offering, 175,000 units

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001193125-23-155430

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.